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Mode The mode is the value which occurs most frequently in a set of observations on the point of maximum frequency and around which other items of the set cluste
As we stated above, we start factor analysis with principal component analysis, but we quickly diverge as we apply the a priori knowledge we brought to the problem. This knowled
A salesperson visits from house to house to sell her knives. The probability that she makes a sale at a random house is .3. Given that she makes a sale, the sale is worth $100 with
Weighted Harmonic Mean Weighted Harmonic Mean is calculated with the help of the following formula: WHM Case
Standard Error The measure of reliability of the estimating equation that we have developed is given by standard error of estimate. The standard error of estimate represented b
Convenience Sampling It means a convenient sample is obtained by selecting convents units from the universe. Convenient sample is also known as chunk. It means a fraction of
Large Sample Test for Mean A random sample of size n (n > 30) has a sample mean . To test the hypothesis that the population mean μ has a specified value μ 0 let us formu
TYPE I AND II Errors If a statistical hypothesis is tested, we may get the following four possible cases: The null hypothesis is true and it is accepted; The
the president of a certain firm concerned about the safety record of the firms employee sets aside $50 million a year for safety education. the firms accountant believes that more
Ask queFrom these studies, which of the following may be considered a variable that can have a probability distribution? [I] Percentage of Sub-Saharan Africans that smoke [II] Perc
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